Caledonian Welding Supplies Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: SC399725 (Scotland)

Abbreviated Unaudited Accounts for the Year Ended 31 May 2016

for

Caledonian Welding Supplies Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

A J Duncan

P A McKay

REGISTERED OFFICE:

52 Brimmondside

Bucksburn

Aberdeenshire

Scotland

AB21 9WA

REGISTERED NUMBER:

SC399725 (Scotland)

ACCOUNTANTS:

Bon Accord Accountancy Limited

2 North Ness Business Park

Lerwick

Shetland

ZE1 0LZ

FIXED ASSETS

Tangible assets

2

65

284

CURRENT ASSETS

Stocks

406

Debtors

6,313

4,445

Cash at bank and in hand

11,207

13,697

17,926

18,548

CREDITORS

Amounts falling due within one year

20,720

19,501

NET CURRENT LIABILITIES

(2,794

)

(953

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(2,729

)

(669

)

CREDITORS

Amounts falling due after more than one
year

50,000

NET LIABILITIES

(52,729

)

(50,669

)

CAPITAL AND RESERVES

Called up share capital

3

100

Profit and loss account

(52,829

)

(50,769

)

SHAREHOLDERS' FUNDS

(52,729

)

(50,669

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 28 October 2016 and were signed on its behalf by:

A J Duncan - Director

P A McKay - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on cost

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2015

and 31 May 2016

3,615

DEPRECIATION

At 1 June 2015

3,331

Charge for year

219

At 31 May 2016

3,550

NET BOOK VALUE

At 31 May 2016

65

At 31 May 2015

284

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.16

31.5.15

value:

£

100

Ordinary

£1

100